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▶ 0:42 · $ONON · Is On Holding's Stock a Steal at These Prices?
episode briefing
Asymmetric Investing

Is On Holding's Stock a Steal at These Prices?

2026-03-05 · 1 company · 0 thematic
sentiment
1 bull0 bear0 neu
speakers
travis hoium

Travis Hoium hosts the Asymmetric Investing podcast/YouTube channel and manages the Asymmetric portfolio. He conducts fundamental research using Fiscal AI and focuses on platform business models, healthcare technology, and consumer subscription businesses. He discloses holding Hims & Hers as one of his largest positions.

quote
“this is one of my biggest holdings right now. This is one of my biggest holdings in the Asymmetric portfolio right now, but it hasn't done particularly well recently because of multiple compression.”
—travis hoium
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$ONON···bullish· high· postravis hoium
Hoium: On Holding a steal at 3.4x forward EV/sales despite 35% CAGR
On Holding delivers 35% revenue CAGR with expanding margins (64% gross, 17.6% EBITDA) and massive runway in apparel/accessories, but Swiss franc reporting and weak USD compress mu…